: The move to repatriate foreign earnings by the government-linked companies and government-linked investment companies in response to Bank Negara Malaysia’s call to relieve pressure on the ringgit has paid off, said governor Datuk Abdul Rasheed Ghaffour“We are not able to reveal the institutions and what volumes they brought back, but they have been able to bring back very consistently on a daily basis,” he said.
“Other countries have increased their interest rates more aggressively than Malaysia since March 15, 2022. Malaysia’s magnitude of the overnight policy rate increases stood at 125 basis points. Commenting further, the governor said the decline in the value of the ringgit is temporary and due to external factors.
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